ACC 241 Uses of Accounting Information II (1) Zach Walden & | 12/03/211:38 PM E Homework: HW #8 - Chapter 9 Question 3, S9-11 (simil... Part 1 of 4 HW Score: 10%, 1 of 10 points O Points: 0 of 2 2 Save Gem Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data.) The company's sales are 40% cash and 60% credit. Its collection history indicates that credit sales are collected as follows: (Click the icon to view the collections data.) How much cash will be collected in January? In February? In March? For the quarter in total? ? ? FI Complete the cash budget to determine how much cash will be collected in January, February, March and for the quarter in total. (Round your answers to the nearest whole dollar.) Gem Service Cash Collections Budget For the Months of January through March January More info Cash sales 20% in the month of the sale 40% in the month after the sale Collection of credit sales: 20% Month of sale 40% Month after 30% Two months after . Total cash collections 30% two months after the sale 10% are never collected Print Done - X Data table November Sales revenue .......S S 16,300 December $ 10.200 January February $ 15,400 $ 13,200 March 14,200 $ Print Done Help me solve this Video Get more help Clear all Check